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SC pressed over coco firms' dividends.
The United Coconut Associations of the Philippines (UCAP) has appealed to the Supreme Court to immediately issue an order releasing San Miguel Corp. (SMC) cash dividends to the Coconut Industry Investment Fund (CIIF) Oil Mills Group and its holding firms, so the money can be used to fund coconut industry projects.
UCAP is an organization of stakeholders in the coconut industry, including the state-led CIIF-Oil Mills Group. The CIIF group owns about a quarter of San Miguel. The ownership of the stake sequestered by the government after the ouster of the Marcos government has yet to be resolved by courts.
The group is complaining that it has yet to receive San Miguel …
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